Jefferies & Co. reported on Friday that they have upgraded chemical company, Eastman Chemical Company(EMN).
The firm, which currently has a “Hold” rating on the company, has increased its price target to $71. This price target suggests a 3% increase from the stock’s current price of $68.88.
Analysts have increased the company’s price target as a result of lower priced feedstock.
Eastman Chemical shares were mostly flat during premarket trading Friday. The stock has increased 76% in the past year.
The Bottom Line
Shares of Eastman Chemical (EMN) have a 1.74% dividend yield, based on last night’s closing stock price of $68.88. The stock has technical support in the $62-$66 price area. The shares are trading near all-time highs.
Eastman Chemical Company(EMN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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